Ripple (XRP) Scores Major European Win With Full MiCA License

This authorization means the company enters the post-transitional MiCA era fully compliant, said a firm exec.

Ripple announced minutes ago that it has received full authorization as a Crypto Asset Service Provider (CASP) from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).

This allows the company behind XRP to offer its regulated crypto payments platform throughout the European Economic Area (EEA).

The statement from the company indicates that this approval follows the firm’s preliminary authorization announced in June and confirms that it is fully compliant with the EU’s Markets in Crypto-Assets (MiCA) framework.

Consequently, Ripple can now provide its end-to-end crypto payments solutions to financial institutions, corporations, and businesses across all 30 EEA countries under a single regulatory framework.

Ripple’s Managing Director for Europe and the UK, Cassie Craddock, weighed in on the major authorization, indicating that it positions her firm to expand its presence in the region as demand for regulated digital asset infrastructure continues to grow.

“This CASP authorization means Ripple enters the post-transitional MiCA era fully compliant and ready to scale. The institutions we work with across Europe are looking to build their digital asset services alongside regulated partners, and Ripple is licensed and ready to meet that demand,” she concluded.

The announcement noted that Ripple has now joined a very small number of cryptocurrency firms to have the full authorization under MiCA. Moreover, its portfolio of regulatory licenses has grown to over 75.